The U.S. Government Accountability Office has issued a new fraud risk management framework in an effort to help agencies detect andÂ deterÂ fraud in federal programs.
The framework contains a list of practices in establishing an anti-fraud culture, assessing and mitigating fraud risks, and adjusting fraud risk management activities if necessary, GAO said Tuesday.
âFederal managers oversee how hundreds of billions of dollars are spent annually and this new conceptual framework can be a highly effective tool in helping managers fight fraud wherever it exists,â said Gene Dodaro, U.S. comptroller general and chief of GAO.
âAlthough managers have made progress in dealing with fraud, embracing a more strategic approach to managing fraud risks will certainly enhance those efforts,â added Dodaro.
He also said the framework also recommends actions for program managers to evaluate fraud risks and measure the progress of their anti-fraud programs.